Topgolf Callaway Brands (NYSE:MODG) Receives Buy Rating from Tigress Financial

Tigress Financial reaffirmed their buy rating on shares of Topgolf Callaway Brands (NYSE:MODG) in a research report released on Friday morning, Benzinga reports. Tigress Financial currently has a $38.00 target price on the stock.

A number of other equities analysts have also issued reports on MODG. Raymond James raised their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an outperform rating in a research note on Thursday, January 4th. KeyCorp reduced their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an overweight rating for the company in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Topgolf Callaway Brands presently has an average rating of Moderate Buy and an average price target of $20.64.

Topgolf Callaway Brands Stock Down 1.9 %

Topgolf Callaway Brands stock opened at $15.70 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 1.75 and a beta of 1.87. Topgolf Callaway Brands has a 1-year low of $9.84 and a 1-year high of $23.01. The business has a fifty day moving average price of $14.86 and a 200-day moving average price of $13.76.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $897.10 million during the quarter, compared to analysts’ expectations of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.27) EPS. Equities research analysts forecast that Topgolf Callaway Brands will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. Company insiders own 11.97% of the company’s stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several institutional investors have recently bought and sold shares of MODG. Shapiro Capital Management LLC boosted its holdings in Topgolf Callaway Brands by 651.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock worth $133,683,000 after buying an additional 8,373,946 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Topgolf Callaway Brands in the 1st quarter worth about $57,769,000. Vanguard Group Inc. boosted its holdings in Topgolf Callaway Brands by 13.6% in the 4th quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after buying an additional 1,845,864 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $27,446,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $26,463,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.